Makarora, Ares to take Plymouth Industrial private in $2.1B deal

Plymouth Industrial is making the pivot from public to private after inking a merger. Makarora Management and Ares Alternative Credit agreed to acquire all outstanding shares of the Boston-based real estate investment trust’s common stock and limited partnership interests for $22 per share, Plymouth announced. The all-cash deal values Plymouth at $2.1 billion, including outstanding debt. Sixth Street Partners submitted an unsolicited takeover bid for the company in mid-August; Makarora and Ares’ agreement valued the company at nearly twice the amount of the Sixth Street deal. In a statement, Makarora founder Chad Pike said the “properties are well positioned to […] This article originally appeared on The Real Deal. Click here to read the full story.